It’s Wednesday and we are just 4 weeks out from Election Day, though many states have already begun to vote.
Here’s what we are tracking today:
Trump’s top campaign advisers took money from a pro-Putin government in Bosnia
Trump’s sons’ investments have “won” more than $6 BILLION in government contracts
Trump wants a presidential retreat at his West Palm Beach golf club
Troy Jackson hammers Susan Collins on debate night (and more debate news)
The trade deficit widens, real wages fall, tariffs drive more inflation
Scott Bessent’s reported meltdowns and tantrums
Houthi attacks, a $200 oil warning, and a Gulf hurricane
Rubio claims Hormuz is open, Iran says not so fast
The Russia-Ukraine war spills into the Black Sea
Trump posts a transphobic ad attacking Annie Andrews, the Democrat running for U.S. Senate in South Carolina
Rubio dodges on Kimberly Guilfoyle
“The Orange Plague” statue in European Parliament
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The Grift That Keeps On Grifting
While Trump was doing midterm rallies last week, James Blair and Chris LaCivita, the 2 men running his political operation, were in Bosnia’s Republika Srpska giving election advice to its Russia-aligned government, per Ken Vogel on the NYT.
Each was reportedly paid hundreds of thousands of dollars via a DC law firm. Milorad Dodik’s nationalist party has cultivated close ties with Putin while courting Trump’s orbit, and Trump-linked lobbyists and operatives have pulled in over $4 million from that government since early 2025.
Trump’s response? He said on Truth Social that they’re just “outside consultants” and he has “no idea” who else they work for, claiming if there’s a conflict he will terminate them “immediately.” These are the people running the GOP’s midterm strategy, and even Republican consultants are asking how seriously the White House is taking these upcoming elections.
A person close to the White House told Politico Playbook: “Not a good look. I think Chris is doing what Chris has always done - and my guess is after 2 years on the campaign and 2 more in the WH James wanted a taste of $ ... and honestly I think it may piss DJT off.”
Then there’s the “family business.” An ABC News analysis found defense and tech companies backed by Don Jr. and Eric Trump have received or been promised more than $6 BILLION in government contracts since the brothers invested. Must be their brilliant business acumen.
And per the Washington Post, Trump wants to turn part of his West Palm Beach golf club into an official presidential retreat modeled after Camp David, with part of the county-owned property handed to the federal government and his private club operating right alongside it. Trump says he’ll fund construction. I’ll believe it when I see it.
Debate Season
With Election Day under 30 days away, that means debate season is upon us.
In the first of 4 Maine Senate debates, held 8 years to the day after Susan Collins voted to confirm Brett Kavanaugh, Troy Jackson tied her to Trump on tariffs, ICE, Iran, and the Supreme Court. When Collins touted a rural hospital fund in Trump’s 2025 law, which cuts about $1 trillion from Medicaid, Jackson compared her to an arsonist wanting credit for bringing a cup of water to the blaze. When she bragged about getting road salt off the Canada tariff list, he noted Mainers can’t eat road salt and she’s responsible for all the other tariffs. Collins still insists Kavanaugh didn’t lie to her about Roe v. Wade, and asked whether she’d stand with Trump if he came to Maine, she just insisted he won’t come. Jackson also brought up the recent corruption allegations against Collins. They meet again Thursday.
And elsewhere…
Rob Sand debated Zach Lahn for Iowa governor, Wes Moore debated Dan Cox, and Georgia and Michigan governor candidates squared off. Tonight is Shapiro vs. Garrity in Pennsylvania, Iowa Senate, and Arizona’s 1st District.
Midterm Donation Decisions
Trying to figure out where to donate to help win the midterms this year but don’t want to waste your money? Here are 3 simple rules.
Give now: Early money lets campaigns plan, and late money can’t buy back time.
Skip the campaigns that are already well funded: Your dollars matter most where the need is real.
Don’t forget the state races: Many are decided by a few thousand votes.
Following all three on your own takes a lot of research, which is where Oath comes in. Oath is a donor-first platform that turns real-time financial and polling data into a simple answer to “where should my money go?” Over 150K donors use it to guide their giving, and we built a special slate just for MeidasTouch readers so you can put your money where it counts.
Your Paychecks: Down, Their Portfolios: Way Up
The trade deficit widened to its largest level in more than a year, with imports exceeding exports by about $106 billion. Trump promised his tariffs would bring that number to zero.
The BLS’s own data shows real wage growth negative for the 5th straight month, at -0.2% in August. A new New York Fed study found tariffs added 2.9% to goods inflation by February. Without them, goods prices would have slightly dropped.
Federal Reserve data shows the top 0.1% now hold more than 6 times the wealth of the bottom half. And Semafor reports the New York Fed began visiting JPMorgan, Wells Fargo, Barclays, and Morgan Stanley to question their exposure to private credit firms, which tells you regulators are worried about what’s lurking in this economy.
Bessent’s Messy Meltdowns
The man in charge of all of this is Treasury Secretary Scott Bessent, and oh boy… A Wall Street Journal deep dive painted a very ugly picture: profanity-laced tirades, staff avoiding him, dramatic firings. Officials say he got so pissed off about how his briefing book was organized that he threw the binder at a wall. Bessent denies the story. When Code Pink hecklers interrupted him at a DC restaurant back in December, the owner and a nearby diner say he berated the owner and spit in his own food before leaving.
Bessent continues to tout his “Operation Economic Outcast” against Iran, boasting that Iran’s rial hit record lows and Iran loaded 0 crude last month. Iran parliament speaker Ghalibaf answered with “boo!” and a ghost graphic showing U.S. Brent prices, 10-year-yields, junk bond spreads, and diesel all spiking while consumer confidence, housing affordability, and foreign purchases of U.S. Treasuries plunge.
Oil, Hormuz, and the Regional War
Marco Rubio, speaking in Greece, insists the Strait of Hormuz is open and nearly as much oil is flowing as prior to the war. Iran’s General Mohammad Reza Naqdi says the Strait is closed and Iran’s forces have full control, and the IRGC said through state-backed Fars that the southern routes will soon be blocked. Iranian President Pezeshkian vowed to resists, and per IRNA he will meet Putin at the CIS summit in Turkmenistan.
On CNBC, Interior Secretary Doug Burgum claimed Trump “stopped World War 3” and blamed Ukraine for high diesel prices. What planet do these people live on? Reality check:
Oil is rising on Houthi attacks on Saudi Arabia
The EIA raised its 2026 Brent forecast 8% to $98, with Q4 expected at $105
Vitol’s chief warned of a tanker shortage and the risk of $200 oil
Tankers are now charging around $1.3 to $1.5 million a day to haul crude oil out of the region (it was around $30,000 before the war)
Rosemary Kelanic notes the U.S. has committed 30% of its deployed navy to keep Gulf oil flowing at $100 a barrel
Tropical Depression Nine is forecast to become a hurricane by Thursday and hit the northern Gulf Coast near the Alabama-Florida Panhandle Friday, potentially threatening offshore production and refineries
The Ukraine War Rages On
Ukraine struck an oil tanker now burning off Sochi, while Russia keeps pounding Kyiv with ballistics and cruise missiles and upgraded drones that Ukraine, short on Patriots after Trump withheld weapons, is struggling to intercept.
Trump’s Transphobic Attacks
Trump began this morning posting an ad featuring a man in drag in a grocery store with the message “We Can’t Trust Annie Andrews.” This comes after he used an anti-trans slur against the South Carolina Senate candidate. Dr. Andrews is a pediatrician and a mom of 3. This is the disgusting messaging Trump has now resorted to in order to assist Darline Graham, the sister of the late Lindsey Graham.
Some Final Quick Hits
Marco Rubio was asked in Greece about congressional scrutiny of now-Ambassador Kimberly Guilfoyle’s controversial tenure. He said it wasn’t the right “forum” and praised her
A Jens Galschiøt sculpture of a naked, 23-karat gold, obese Trump riding a starving man’s shoulders is on display in the European Parliament in Strasbourg
Trump is heading to San Antonio tonight, but don’t expect Greg Abbott to be in attendance. He’s avoiding it completely. Meanwhile, MAGA Mike Johnson is bringing in activist Scott Presler as the “closer” in Pennsylvania.
My brothers and I wrote WTF America?! for days exactly like this one. It’s out October 20, so preorder the hardcover, audiobook, or e-book today.
Thanks for reading and shoutout to the Meidas Mighty!
What a humiliating disaster this man is! 🤡🎡🎪
Yeah, tRump is "listening" as Scott Bessent speaks. Dozy Don in action!